Mitsubishi Materials, Partner Set Up Geothermal Power Venture

Mitsubishi Materials Corp. and Mitsubishi Gas Chemical Co. set up a venture with plans to develop a geothermal power project in Japan’s northern prefecture of Iwate.

The venture will conduct an environmental impact assessment after earlier tests confirmed an area in Hachimantai City has 15 MW of geothermal capacity, the companies said in a statement Thursday.

The partners are aiming for the plant to start running in 2022, Hiroshi Shimizu, a spokesman for Mitsubishi Materials, said by phone.

Mitsubishi Materials has a 60 percent stake in the venture, while Mitsubishi Gas Chemical holds the remainder.

©2015 Bloomberg News

Lead image: Drill. Credit: Shutterstock.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs